With all talk about the growth of identity theft and the devastation it can reap on its victims, you may be wondering what you can do to protect the identities of yourself and your family members; and you may have considered identity theft insurance. If you have, you are not alone. Many Americans have opted for identity theft insurance, according to a recent article from the Equifax Finance blog. For those who are concerned about losing their identity, identity theft insurance provides some peace of mind. If you are considering purchasing identity theft insurance, here’s what you should know, according to the article, “Do I Need Identity Theft Insurance?”
First, identity theft insurance does not keep you from falling victim to identity theft. What it does, is make it easier, if you ever do fall victim. Repairing your identity after theft can be costly. The insurance will help cover those costs, like phone bills, lost wages, cost for notarizing fraud affidavits or other documents, and certified mail costs, and it also may occasionally cover pre-approved attorney fees.
When shopping for identity theft insurance, make sure you know what it is you are buying – compare policies, prices, coverages, limitations and deductibles among multiple insurance providers. You may be able to add identity theft insurance onto your homeowners or renters insurance for an additional fee. You may also be able to purchase identity theft insurance from your bank or credit card company.
Read the full article to get all the tips on shopping for identity theft insurance; and while you’re on the Equifax Finance blog, you can also get loads of other information on identity theft protection and other personal finance topics, from retirement to taxes to credit ratings and more.